Lord Abbett & CO. LLC Has $33.47 Million Position in Verra Mobility Co. (NASDAQ:VRRM)

Lord Abbett & CO. LLC trimmed its holdings in Verra Mobility Co. (NASDAQ:VRRM) by 35.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,203,662 shares of the company’s stock after selling 652,341 shares during the quarter. Lord Abbett & CO. LLC owned about 0.73% of Verra Mobility worth $33,474,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in VRRM. Wellington Management Group LLP lifted its stake in Verra Mobility by 13.2% in the third quarter. Wellington Management Group LLP now owns 8,065,795 shares of the company’s stock valued at $224,310,000 after buying an additional 941,127 shares during the period. State Street Corp increased its stake in shares of Verra Mobility by 6.0% in the 3rd quarter. State Street Corp now owns 6,301,131 shares of the company’s stock valued at $175,234,000 after acquiring an additional 357,078 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of Verra Mobility by 7.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 4,015,800 shares of the company’s stock valued at $111,679,000 after acquiring an additional 261,500 shares during the period. Geode Capital Management LLC boosted its stake in Verra Mobility by 0.5% during the third quarter. Geode Capital Management LLC now owns 3,904,750 shares of the company’s stock worth $108,612,000 after acquiring an additional 17,688 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Verra Mobility by 6.4% in the third quarter. Principal Financial Group Inc. now owns 3,756,352 shares of the company’s stock worth $104,464,000 after purchasing an additional 225,585 shares during the period.

Verra Mobility Trading Down 0.9 %

NASDAQ:VRRM opened at $23.79 on Friday. The company has a debt-to-equity ratio of 2.13, a current ratio of 2.61 and a quick ratio of 2.52. Verra Mobility Co. has a one year low of $20.26 and a one year high of $31.03. The company has a market cap of $3.92 billion, a PE ratio of 39.65, a PEG ratio of 2.12 and a beta of 1.23. The firm has a 50-day moving average of $24.76 and a 200-day moving average of $26.63.

Verra Mobility (NASDAQ:VRRM) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. Verra Mobility had a return on equity of 38.97% and a net margin of 11.64%. The firm had revenue of $225.55 million during the quarter, compared to analyst estimates of $226.65 million. During the same period in the previous year, the company posted $0.27 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, equities research analysts expect that Verra Mobility Co. will post 1.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

VRRM has been the topic of several research reports. Morgan Stanley dropped their price objective on shares of Verra Mobility from $26.00 to $25.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 30th. Robert W. Baird cut their price target on Verra Mobility from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Verra Mobility from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Friday, November 1st.

Verra Mobility Profile

Verra Mobility Corporation provides smart mobility technology solutions and services in the United States, Australia, Canada, and Europe. It operates through three segments: Commercial Services, Government Solutions, and Parking Solutions. The Commercial Services segment provides automated toll and violations management, and title and registration services to rental car companies, fleet management companies, and other large fleet owners.